Chart of the Week: FHFA Purchase-Only House Price Index

Annualized home price growth in the U.S. peaked between the second half of 2021 and first half of 2022 before decelerating through most of 2023 as rising mortgage rates and tight inventory contributed to a pullback in demand.

MBA Chart of the Week: New Home Purchase Applications by Loan Type

Mortgage applications to buy newly built homes have been seeing year-over-year growth since 2023, and in the MBA Builder Applications Survey results for September 2024, purchase applications were up 11% on an annual basis.

MBA Chart of the Week: Purchase Applications Index

In the wake of stronger economic data, including reports on jobs and inflation, mortgage rates have moved higher, with the 30-year fixed rate rising to 6.36%– the highest since August, based on the most recent data from the MBA’s Weekly Applications Survey.

MBA Chart of the Week: Target Fed Funds Rate

The FOMC lowered the target Fed Funds rate by 50 basis points at its September meeting and signaled that this is the first cut in a series that is expected to bring the Fed Funds rate down by about 2 percentage points by the end of 2025.

MBA Chart of the Week: 2023 HMDA Respondents

A total of 4,874 companies reported lending activity under the Home Mortgage Disclosure Act (HMDA) in 2023, according to MBA’s analyses of the dataset.